Sorry Jamie cant be much help here.In Brisbane NOBO's arent that popular.In fact i lashed out this year and installed heating for all of the family………i bought them all a jumper and told them only to wear it on days if ever fell to below 16 degrees…….Oh to live in Qld.CheersYours in Finance

Amit they would be Depreciable items so YES can be claimed.CheersYours in Finance

As JacM has mentioned any change in ownership will trigger both Stamp Duty and possibly a CGT.Transferring the property to your parents may also have effect on their current or future pension entitlements if applicable so think long and hard about this before doing so.You could always look to Transfer the property into Trust. Of course if you…[Read more]

Firstly JacM you are too kind indeed but i will take every compliment i can get as i count the grey hairs daily and they are increasing in number.What you have to remember The4ofus is that organisations like Aussie and Mortgage Choice are in the main franchises so the quality of advise is as good as the person running the franchisee or the staff…[Read more]

Answer is simple – Yes there are lenders who will treat the FHOG as genuine savings especially if the total loan is 90% or less.Downside is that you wont receive the FHOG on Settlement of the land purchase but usually only on the first construction draw.Obviously for a settlement timing issue this is a problem.CheersYours in Finance

Hi MIAYes you can make extra repayment with an interest only loan (albeit some lenders have a real quirky way of working it out).Sounds like you have the loan on a honeymoon rate (Yikes that could be an issue).Definately look at an offset account for the PPOR loan.Sorry to sound like a broken record but sounds like a complete loan mess.Lodging a…[Read more]

Orange, NSWCheersYours in Finance

Is it beneficial to consider buying your wives interest in the property out?In some States you will incur Stamp Duty others not. Still might be worth depending on the numbers.As Terry mentioned loosing out on the deductions might be painful in the short term.

MIA as you are looking at buying a PPOR I personally would be restructuring the 2 IP loans NOW rather than waiting as the interest is deductible.Hate to say it still does sound to me like the deductions are being fully claimed and i would like to double check the numbers.Every dollar helps and restucturing the loans and getting them set right…[Read more]

Jac you now me always try to provide both structured advice as well as entertainment in the same post.CheersYours in Finance

MAIThe Nth Qld market has certainly suffered over the last 12 months for a variety of reasons and I am sorry to hear about your situation.If it helps i dont think it will last forever and as soon as Tourist return i am sure the local economy will pick up.Now couple of things worth considering:1) You mention that in a few years time the loan…[Read more]

Mago without being funny be careful giving advice because what you have stated is clearly incorrect as i have mentioned on another separate post.You can cretainly claim the interest on your loan balance once you move out of your PPOR and rent the property out however you cannot reborrow, redraw or take out further funds from the initial balance…[Read more]

Hi MagooYour statement is incorrect.The security does not matter it is the "purpose" of the funds that is inportant.As i have said many a time before you could secure the entire loan against a pogo stick and have all of the interest deductible if the purpose of the loan is for investment.CheersYours in Finance

Sure it is a typing error by Terry but CGT is calculated on the Contract date (of course depending in which State you are in this could be the Exchange date) so just need to watch that.One way of eliminating CGT is never never sell. Appreciate it sounds silly but it does work.CheersYours in Finance

Zaul sorry old mate i hate to say i think you might have been out in the Canadian sun too long.Here is Oz finance is harder to obtain now than ever before and the new NCCP regulations mean supportive income is paramount.I have a reasonable sized portfolio (Well i guess if 40 properties is reasonable sized) but certainly couldnt replicate what i…[Read more]

Must admit i have financed 2 new purchases in Fortitude Valley this week alone and yields seem to be very strong.Cant comment for West Melbourne but inner City Brisbane prices are certainly holding their own.CheersYours in Finance

Great to hear Rose.CheersYours in Finance

Always concerned when i read a lender provided financial advice.For the benefit of the post we will assume the individual concerned was Licensed to do so.CheersYours in Finance

Not at all Anthony.Want read some of my early AM replies lolCheersYours in Finance

Hi Anthony Hate to say anyone providing Credit advice thru a Vendor Finance arrangement certainly needs to be NCCP compliant.This is only the case where the property is being sold under an Instalment Finance arrangement.As Terry mentioned Paul was running a NCCP course.CheersYours in Finance